International legal practice Osborne Clarke has advised the Goldman Sachs Principal Strategic Investments group in relation to their lead of a £13m ($17.5m) Series A funding round in Eigen Technologies Limited.
Eigen is a research-led artificial intelligence company based in London and New York. Its mission is to help individuals and organizations make the right decisions, and they do this by unlocking the value of their qualitative data. The Series A proceeds will be used to fund the expansion of the business in London, New York, and other global markets, including Asia and the Americas. Eigen will also use the funds to support a substantial additional investment in research and development.
Eigen automates the extraction and classification of information from documents. Its simple, flexible Natural Language Processing (NLP) technology accurately extracts information from diverse types of documents at scale and can be integrated into its clients’ workflows. Eigen uses state-of-the-art machine learning algorithms to recognize patterns in text and give accurate answers to unique questions. This enables its clients to use data in new ways to make the right business decisions: driving down costs, finding opportunities, calculating risks, and meeting regulatory requirements.
Associate Director Tom Try and Senior Associate Rebekah Winsor from Osborne Clarke’s Corporate team advised.